But what is this is really an expanding wedge as modeled by the green upper and lower trend lines. That would mean that the full C of 5 still has to unfold and that it could hit or throw over the top green rail. That could be hundreds of Dow points and it could happen over a short period of time to shake out as many shorts as possible before some news pops up that is taken very badly (despite all the bad news coming out recently like the downward revision of Japanese GDP "growth" to -7.1%. That is a huge GDP plunge yet the markets do not seem ready to panic yet and that suggests to me that there is still upside possible. I don't think I will try to trade it but I will probably get stopped out of TVIX@ 2.59 and then just sit on the sidelines until I either see 5 clear wave up or the DJIA pulls back below the lower green rail of the sideways movement we are in.
Again, that sideways crap can either be a 4th or it can be a B. If it's a B, the eventual move could be to the top rail and even throwing over it. Look for that! If you see the throw over, the buy signal will be the break back below it. I don't think there is much left in the tank for the markets if we see that and it will probably leave TVIX at the $2-$2.20 range if that happens. Don't sit there and take it! Use stops, find a lower entry point based on wave model odds and just keep repeating this until the market collapse begins. With all of the worsening global economic news it cannot be far off IMO. Keep in mind that the Ponzi operator (the federal reserve) is now coming under attack from congress right now as I thought it would during the end game. Once the fed loses autonomy of action, who will have confidence in it anymore? We really are in the end game but we still have to play it well. King and knight vs. king is always winnable as long as you stay focused.
No comments:
Post a Comment